Borregaard

Transaction in Own Shares • Nov 28, 2023

Borregaard ASA: Repurchase of own shares

Borregaard ASA: Repurchase of own shares

28.11.2023: Borregaard ASA ("Borregaard", OSE ticker: BRG)

Reference is made to the stock exchange notice of 17 November 2023 where

Borregaard announced the intent to repurchase up to 200,000 of its outstanding

common stock. The repurchase of shares will be conducted in a period from

20(th) November up to and including 20(th) December 2023 at the latest.

Borregaard has in the period from 20 November up to and including 28 November

2023 in total purchased 139,796 own shares through broker at an average price of

NOK 169.45 per share.

Aggregated overview of transactions per day:

+---------------------+------------------+----------------+--------------------+

|Date |Aggregated daily |Weighted average|Total daily |

| |volume (number of |share price per |transaction value |

| |shares) |day (NOK) |(NOK) |

+---------------------+------------------+----------------+--------------------+

|20.11.2023 |23,843 |169.7482 |4,047,306.33 |

+---------------------+------------------+----------------+--------------------+

|21.11.2023 |23,843 |169.7995 |4,048,529.48 |

+---------------------+------------------+----------------+--------------------+

|22.11.2023 |23,843 |167.4216 |3,991,833.21 |

+---------------------+------------------+----------------+--------------------+

|23.11.2023 |12,739 |169.3315 |2,157,113.98 |

+---------------------+------------------+----------------+--------------------+

|24.11.2023 |17,905 |169.7394 |3,039,183.96 |

+---------------------+------------------+----------------+--------------------+

|27.11.2023 |18,675 |170.6156 |3,186,246.33 |

+---------------------+------------------+----------------+--------------------+

|28.11.2023 |18,948 |169.8075 |3,217,512.51 |

+---------------------+------------------+----------------+--------------------+

|  |  |  |  |

+---------------------+------------------+----------------+--------------------+

|  |  |  |  |

+---------------------+------------------+----------------+--------------------+

|Previously disclosed |n.a. |n.a. |n.a. |

|buys under the | | | |

|programme | | | |

|(accumulated) | | | |

+---------------------+------------------+----------------+--------------------+

|Accumulated under the|139,796 |169.45 |23,687,725.80 |

|buy-back programme | | | |

+---------------------+------------------+----------------+--------------------+

The issuer's holding of own shares:

Following the completion of the above transactions, Borregaard owns a total of

383,400 of own shares, corresponding to 0.38% of Borregaard's share capital.

Appendix:

A detailed overview of all transactions made under the buy-back programme that

have been carried out during the above-mentioned time period is attached to this

report and available at www.newsweb.no.

Contact:

Lotte Kvinlaug, Investor Relations Officer, +47 922 86 909

This information is subject to the disclosure requirements pursuant to

Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 Article 2 section

3 and Section 5-12 of the Norwegian Securities Trading Act.